This study investigates how CEO behavior and incentives change during the CEO's final years in office, known as the horizon problem. We examine how the horizon problem alters managerial slack, a measure of operational inefficiency and managerial value diversion. Using data on Chinese publicly...

This paper considers stock halts to study the impact of stock liquidity loss on the managerial learning effect based on stock prices. We examine stock halts' impact on corporate innovation and find that discretionary halts hinder innovation. We also find that discretionary halts reduce...

Purpose - The purpose of this study is to examine the relationship between the corporate social responsibility (CSR) performance of job-hopping executives at their former and subsequent firms. Design/methodology/approach - We conduct regression analyses using a sample of firms listed on the...